Los Angeles Capital Management LLC Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Los Angeles Capital Management LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,239 shares of the home improvement retailer’s stock after purchasing an additional 8,595 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Lowe’s Companies were worth $33,658,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LOW. Simon Quick Advisors LLC grew its holdings in Lowe’s Companies by 22.9% during the third quarter. Simon Quick Advisors LLC now owns 1,225 shares of the home improvement retailer’s stock worth $255,000 after acquiring an additional 228 shares during the period. Legacy Financial Group LLC acquired a new stake in Lowe’s Companies during the 3rd quarter worth $71,000. Bailard Inc. lifted its position in Lowe’s Companies by 3.0% during the third quarter. Bailard Inc. now owns 7,138 shares of the home improvement retailer’s stock worth $1,484,000 after buying an additional 211 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Lowe’s Companies by 1.6% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 290,545 shares of the home improvement retailer’s stock worth $60,387,000 after buying an additional 4,600 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Lowe’s Companies by 0.4% in the 3rd quarter. Brown Advisory Inc. now owns 761,225 shares of the home improvement retailer’s stock worth $158,213,000 after acquiring an additional 2,668 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

LOW stock traded up $2.58 during midday trading on Friday, reaching $232.16. 1,834,659 shares of the company’s stock traded hands, compared to its average volume of 2,468,437. The business has a 50-day moving average price of $240.08 and a two-hundred day moving average price of $220.52. The company has a market capitalization of $132.84 billion, a P/E ratio of 17.64, a PEG ratio of 1.68 and a beta of 1.15. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping the consensus estimate of $1.68 by $0.09. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The company’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 earnings per share. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.90%. Lowe’s Companies’s payout ratio is currently 33.43%.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of Lowe’s Companies from $190.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. Piper Sandler lifted their price target on shares of Lowe’s Companies from $218.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Zelman & Associates reiterated a “neutral” rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price target on shares of Lowe’s Companies in a research note on Wednesday, March 27th. Finally, Evercore ISI cut their price objective on Lowe’s Companies from $280.00 to $275.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.